The initial public offering (IPO) subscription period for Forcas Studio started on Monday, August 19, and will shuton Wednesday, August 21. The Forcas Studio IPO is priced between ₹77 and ₹80 per share, with a ₹10 face value. Multiples of those shares are available, and the minimum number of shares up for bid is 1,600.
The firm has allotted equity shares to the following participants: market makers (up to 2,35,200 equity shares), retail individual investors (RII) (up to 15,56,800 equity shares), non-institutional investors (NII) (up to 6,67,200 equity shares), and qualified institutional buyers (QIB) (up to 8,89,600 equity shares).
The company specialises in menswear and sells items including shirts, denims, T-shirts, trousers, cotton pants, sportswear, party wear, fashion wear, boxers, and more. We distribute our own brand online and in bulk throughout India and also provide white-labeling services for other companies like Highlander, Cobb, Kontail, Landmark Group, and many more.
Under the brands FTX, Tribe, and Conteno, the company manufactures and sells menswear clothing both wholesale and through online e-commerce platforms. Through the most well-known retail online e-commerce platforms, including Flipkart, Myntra, Meesho, Amazon, Ajio, Jio Mart, Glowroad, Limeroad, Solvd, and Shopsy, the firm sells goods under its own brand.
The company's sole peer is Aditya Birla Fashion and Retail Ltd. The company's revenue was ₹9,607.24 Lakhs, its EBITDA was ₹927.59 Lakhs, and its profit after tax (PAT) was ₹514.75 Lakhs as of February 24.
Forcas Studio IPO subscription status is 199.75 times, on day 3, so far.
The retail portion was subscribed 281.44 times, and NII portion was booked 233.07 times. Qualified Institutions Buyers were booked 31.79 times.
The company has received bids for 62,19,28,000 shares against 31,13,600 shares on offer, at 12:51 IST, according to data on chittorgarh.com
Forcas Studio IPO subscription status was 36.51 times on the first bidding day, and the issue was booked 104.08 times on the second bidding day.
The Forcas Studio IPO, valued ₹37.44 crore, includes a fresh issuance of 4,680,000 equity shares with a face value of ₹10. There is no "offer for sale" component.
The company plans to use the net proceeds from the issue for the following purposes: financing warehouse upgrades; prepaying or repaying some secured loans that the company has taken out; financing working capital needs; and general corporate purposes.
The registrar of the Forcas Studio IPO is Mas Services Limited, while the book running lead manager is Horizon Management Private Limited. Giriraj Stock Broking is the market maker for the Forcas Studio offering.
Forcas Studio IPO GMP is +85. This indicates Forcas Studio share price were trading at a premium of ₹85 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Forcas Studio share price was indicated at ₹165 apiece, which is 106.25% higher than the IPO price of ₹80.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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